No Free Dogecoin Being Handed Out Via Airdrop
Dogecoin (DOGE) investors who were hoping for free coins to be given to them from an airdrop giveaway are going to be disappointed. A fake X account promising free coins has been called out as a scam.
The X account Doge2014token announced that there would be an airdrop coming soon that would give investors lots of free coins. They simply had to enroll as a VIP member in a service of some kind and add coins to the pile.
The Dogecoin developer who operates the X account Inevitable360 is warning Dogecoin investors and X users that the airdrop announcement is a complete scam. The developer further clarified by saying that there is no Dogecoin airdrop and that there are no plans for one in the future. He also urged X users to report suspicious posts.
Scams of this nature are often used to entice social media users to click on links so that their private information can be stolen. Typically how these work is that they will ask the user to put their sign-in information into the site that pops up, and the scammer will steal that info and take over the account.
How Is Dogecoin Performing?
Right now, Dogecoin is down nearly 4% for the day and has lost 4.49% over the last week. Even though the stock market has been high, the crypto market has been struggling.
Dogecoin is priced at $0.999 right now, well below its all-time high. The predictions that the can would reach a record high this year have been proven to be wrong. Dogecoin is currently 86% below its record high.
The coin’s current struggle is to break above $0.12, and the last time it managed to change hands at that price point was nearly a month ago.
The election conversations are continually going back to cryptocurrency, so Dogecoin could get some of the spotlight as crypto stays in the limelight for the next few months. But the results of the election will help determine the longevity of cryptocurrency and Dogecoin too. We may see new regulations go into effect in the weeks following the swearing into office of whoever wins the US presidential election.
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